The move complements the lender’s aims to seize the opportunity as a result of the impending revival in fund raising, and mergers and acquisitions by the Indian firms, The Economic Times reported.
Barclays country head Jaideep Khanna was quoted as saying by the financial publication that the bank will continue to serve as a focused wholesale bank with lean operations, preferring to operate as a branch of its parent rather than opting for local incorporation.
"We will hire, but we are not planning to enter any new business," Khanna added.
"The strategy for Barclays in India is around combined corporate and investment banking operations, which focuses on largest corporates.
"We are investing in equities and private wealth business. These will be the planks for growth in India."
Barclays, which employes about 300 people in India, recently shut down its retail operations.
Despite being smaller in size than Citigroup or Standard Chartered in India, Barclays ranks third in debt capital advisory by fees in the first nine months of the year, according to data from Thomson Reuters/Freeman Consulting.
Khanna said: "We feel that at this point subsidiarisation doesn’t really offer significant additional benefits.
"Mere national treatment in terms of ability to grow footprint is not core to our banking strategy. There are very significant costs that come with subsidiarisation."
In a bid to make banking giants operate as wholly owned subsidiaries, the Reserve Bank of India in November 2013 said the foreign banks planning to incorporate in the country will be exempted from paying capital gains and stamp duty.
